No overall bump in Atlantic City casino win following Taj Mahal closure

For the first full month since the Trump Taj Mahal closed its doors, the seven remaining casinos in Atlantic City saw their total gaming win for November drop by 3.5% year-on-year to $197.28 million.

According to a report from The Press Of Atlantic City newspaper citing official New Jersey Division Of Gaming Enforcement figures, city-wide land-based casino win, which excludes online and peer-to-peer games, for the 30-day period was an even heavier 5.8% down year-on-year at $180.11 million although this figure represented a 1% boost when previous results from the Taj Mahal were excluded.

Leading the way for November was the Tropicana Casino And Resort Atlantic City with the Tropicana Entertainment Incorporated property posting a 12.1% increase year-on-year in land-based casino win to $25.31 million while the nearby Bally’s Atlantic City Hotel And Casino from Caesars Entertainment Corporation saw its figure swell by 6.6% to reach slightly over $16.28 million.

For its part, the Golden Nugget Atlantic City, which is owned by Landry’s Incorporated, reported a 2.7% increase year-on-year in land-based casino win for November to $16.75 million while the $30.81 million recorded by Harrah’s Resort Atlantic City represented a 2.4% improvement.

However, the Mohegan Tribal Gaming Authority-managed Resorts Casino Hotel saw its land-based casino win for November rise by only 0.4% year-on-year to stand at $12.61 million while MGM Resorts International’s Borgata Hotel Casino And Spa posted a 0.2% decline to $57.01 million with Caesars Atlantic City recording an even more severe 12.4% deterioration to $21.31 million.

The Trump Taj Mahal property from Trump Entertainment Resorts Incorporated closed its doors on October 10 and The Press Of Atlantic City reported that some in the industry had expected the property’s annual gaming revenues, which were estimated at around $180 million, to be shared among New Jersey’s remaining casinos.

However, the newspaper cited gaming analyst and public relations consultant Wayne Schaffel as declaring that the closure, which came in the midst of a battle with the local chapter of the UNITE HERE union over health care, pension and wage issues, would not have a large positive impact on the remaining casinos in Atlantic City.

“What is going to happen is that those people who used to come to the city eight times a year are now going to come six times year and it’s going to continue to decline” Schaffel told the newspaper. “I’m not surprised that all of the money didn’t come back into the city. That revenue is gone.”

No overall bump in Atlantic City casino win following Taj Mahal closure was last modified: December 15th, 2016 by Adam Morgan